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year that never ended. two big stories this week -- the impending fiscal cliff and the washington debates over who will succeed hillary clinton as secretary of state. first to the fiscal cliff. at the end of the year the buescher ra tax cuts will expire and the first wave of $1.2 trillion in spending cuts is scheduled to kick in. c.e.o.'s and economists alike are worried this will send the economy spiraling back into recession. the solution, $1. trillion in new revenue, much to come from raising taxes on wealthy americans. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. every family. everybody here, you'll see your taxes go up on january 1. and it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle-class tax cuts hostage simply because they don't want tax rates on upper-income folks to go up. gwen: house speaker john boehner's response, no way. they are, he said, at stalemate. >> the white house spends three weeks trying to develop a proposal,
this is fantasy you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problems until we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip o'neil. when he was faced with ronald reagan in 1981, he knew he couldn't beat him in head-to-head negotiating but thought he could preserve the democratic party and welfare state in a long battle of attrition. o'neil who had a ran senate, republican president, used the power of house over and over again to slow the momentum. i think republicans got to understand they are not going to get any good deal from barack obama. he has contempt for them. he shows that on a regular basis. he's a hard-line left winger. they've got to think through the american people have chosen him he's going to
uncertainty over the battle of the fiscal cliff in washington. that concern might be showing up in the manufacturing sector. the feds said that in some places around the country, manufacturing was slowing down and actually contracting outright. but it said that hiring was up modestly most places and with the holidays coming up. it said that the outlook for retail sales was mostly upbeat. shep? >> shepard: what's with the sirens? is the place on fire? >> no. there is escort going out here from the white house. >> you don't have much clout there. >> the vice president apparently is leaving. >> shepard: he might as well. what will the fed do with today's report? it has a meeting in a couple of weeks, you know. >> this was okay report. more importantly it was not strong enough for the fed to back off stimulus programs keeping interest race very low for a long time and into the economy. at its meeting next month it is expected to reaffirm those policies. continue them. shep? >> shepard: peter barnes there at the firehouse. peter, thanks. president obama and governor romney are set to
with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a dry mouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are natur
. the reason i want you to forget the fiscal cliff is the washington crowd will do something to stop all the tax quits from expiring. they're going to argue about the upper end. that's why there isn't going to be a fiscal cliff. you've got tax hikes next year from obama care, 3.8% tax hike on all the investments, and capital gains going up, different going up, inheritance tax. we're taxing or capital, taxes our seed corn. how you will that affect all this? >> that means you don't get to your gdp, but you have good things going on in housing. if you look at the core logic numbers this past month, that's very encouraging. in the face of all this, we have four years highs in consumer confidence. to me there are pockets in the manufacturing sector that have siege a resurgence, construction, grid repair, a lot of these power energy management solutions, kind of making these more efficient, if you will. there are some areas that will do better next year. that's where you want to investivities let's put the fiscal cliff aside, because they are not going to let the tax cuts expire. i'm here, i'v
happened there. we are joined in moments. and the so-called fiscal cliff dominating debate in washington d.c. a lot of talk. what about the finances in state capital all across the country? folks are kind of ignoring another source of -- well, let's say inched. take a look at some of the worst offenders in the "chalk talk" here next. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] e mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lea a 2013 ml350 for $599 a month at your local mercedes-benz dealer. now we need a little t more... [ male announcer ] at humana, we understand the value of quality time and personal attentn. which is why we are proud to partner with health care professionals who understand the difference that quality time with our meers can make... hat's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the
the fiscal cliff. washington journal is live starting at 7:00 eastern on c-span. >> president obama travels to pennsylvania friday to talk about his plan to avoid the so-called fiscal cliff. we'll be live from the manufacturing company at noon eastern an c-span2 3. >> worked his way up, went to harvard law school and then immigrated out west to illinois where the lead mine industry was in its hey day. he arrived after about a month's journey by shi ship, by stagecoach, by train and arrived on this steam boat in this muddy mining town boarded himself in a log cabin, established a law practice in a log cabin and worked his way up and became a successful lawyer. and got involved politically and ran for congress eight terms. and then befriended abraham lincoln from illinois. and then grant. and as they were on the rice, wash burn stayed with them as a close colleague during the civil war. and after grant was elected president he initially appointed him secretary of state. and at that time he became very ill. so after about ten days, he submitted his resignation to president grant and so he acce
county. why officials were planning to evacuate. >> the fiscal cliff continues in washington. how republicans are reacting to the latest statement. >> and the struggle for susan rice was lawmakers continue to attack her statements about benghazi. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- with the keurig vue. >>> knack now to our storm watch coverage. this was round three. ktvu's matt keller
. >> this week on "inside washington," heading towards the fiscal cliff. who is going to blink first? >> nobody can win everything. the republicans will have to give on revenue, democrats will have to give on entitlement reform. >> susan rice still in the bull's-eye. >> the concerns i have are greater today than before. >> lunch at the white house whitemitt. who will dare to break the no tax hike pledge? >> republicans who voted against the no tax hike pledged damage the brand for everyone else. captioned by the national captioning institute --www.ncicap.org-- >> thomas jefferson said the purpose of government is to enable the people of the nation to live in safety and happiness. jefferson said americans would be ok if they could keep the government from wasting their labors under the pretense of taking care of them. what is your government doing for you today? is it preparing to drive itself over a cliff like thelma and louise? >> despite the claim that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> if congress does nothing, every
the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases right away. >> yeah. >> can i ask you, though, how can you guarantee e that all the extra tax hikes and provisions actually go towards paying the national debt and not more spending and more programs? >> you can't guarantee that but you have a conservative republican congress. they are not going to vote for any spending increase. why not take advantage of that and make the initial cuts and let them go into a stalemate for awhile. that's a pretty big amount. my sges that provides the certainty. we go back to the clinton tax rates. and we make significant cuts to the deficit and they say, hey, they did something substantial about the maj
with the fear of falling off, know what, the fiscal cliff. if washington does a deal, small businesses may feel brightner the next survey. but for now the uncertainty means owners, who are the biggest drivers in employment, are less likely to hire more workers or invest in growth. one in five said they will cut their workforce the next twelve months. that's the highest since the survey began ten years ago. one in three predict they will slash capital spending the next year too. here is how gallop summed it up. survey suggests the u.s. economy is extremely fragile and possibly susceptible to another recession. we will take a look at what exactly the fiscal cliff means to small business owners and what they can do to prevent any damage. they could be among the hardest hit if we don't get a deal. shannon, back to you. >> so many consequences. all right. thank you, brenda. we asked, you answered. up next, your time to chime in on today's twitter question. and a must-see kicker video you do not want to miss. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the re
solution to avoid the fiscal cliff. take a look at an abc news washington post poll that shows 60% of americans support upper income americans having their taxes raised. 37% oppose it. on issue of reducing deductions, 44% support that. 49% oppose it. much like lawmakers they realize there is a big problem that needs to be fixed but divided on how to fix it. >> in addition to the goings on in the capitol there is a big lunch at the white house today. governor romney coming by for a bite to eat. a lot of speculation about what might be discussed at the meal and the possibility of maybe future job? >> jay carney pushed back on that yesterday. the president said there was no suggestion here that he had a special assignment for him. the president invited mitt romney to come to the white house because he wanted to talk about moving the country forward. the president pointed out that out there on the campaign trail mitt romney had good ideas. he wanted to talk to him about that. not necessarily partisan ideas but ideas like job creation for the middle class. the president pointed to mitt
sweaters. >> we are also talking about as julia was commencing there the fiscal cliff now what washington the gridlock means i think it's most telling because what senator matt baucus from montana said we have 31 days left yet. we are not near a deal yet. we can't expect any sort of a deal with any weeks before christmas i would think. >> the big knock on the president through the this process has been a failure to lead. i think one that sticks rather well. because, instead of sitting down with john boehner. instead of trying to hash something out. he is out there again campaigning, gives speeches, instead of being the one that sits down and gets this deal down. here is the president on again what appears to be the campaign trail yesterday in pennsylvania. >> santa delivers everywhere, i have been keeping my own naughty and nice list for washington. >> [ laughter ] >> you should keep your eye hun gets some connects this year. some members of congress who get them and some who don't. i'm ready to sign it. there are no shortage of pens in the white house. and i carry one around for an emerg
and a lot of people down in washington saying they don't want to go off the fiscal cliff. as far as grover norquist notices, i don't think republicans should be caving to a special interest of one, frankly. we do see some brave republicans coming out there and they should be supported because they are about finding a solution. >> i want to show this tomb the president playing golf with former president bill clinton. how much do you think fiscal cliff was coming up during their golf rounds? >> i'm sure they talked about it because president clinton is a political wonk. what bill clinton showed during his presidency is that there's a way to show common ground with republicans who hate you. they impeached bill clinton but made a deal. they made a deal that was nor the right of where most democrats are. this president has a unique opportunity to make a deal for more towards his left. remember dick cheney said to -- speaking of sequels. remember when dick cheney said you got the high approval ratings you can spend them on the iraq war. republicans what they want is the president to spend some o
because i think that video is just what washington needs to crack thehole fiscal cliff thing wide-open. all i'm saying is i think h the power to bring people together simpson style. that's it for us. thanks for watching. erin burnett out front starts now. >>> "outfront" next, 27 days away from the fiscal cliff. things are getting silly. octogenarians doing gangnam style. plus, what the united states is anning to do if assad uses chemical weapons against his own people. and 24-year-old amy copeland contracted a deadly flesh eating disease in may. doctors gave her a 1% chance of "outfront" to talk about it. let's go "outfront." tonight, gangnam style. yep, this is how one man sees the fiscal cliff and it's a pretty important man. this is alan simpson. ♪ yep. that maybe the most action the fiscal cliff saw today. here's the scene on capitol hill at noon. yep, people leaving. members of congress leaving washington, heading home on wednesday afternoon. one man left standing was the house speaker and he says i'm not going anywhere. >> i'll be here and i'll be available at any moment
-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've bought ragu for years. [ thinking ] woer what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relf ] [ male announcer ] choose taste. choose prego. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and b
chanted and made noise in order to get their way. i think we ought to recognize this entire fiscal cliff is an artificial invention of washington, created by people in the congress and the presidency, and it can be broken down by them into a series of steps that can be taken without having to be rushed into one gigantic last-minute, little understood, with no hearings, one vote up or down, i think it's a terrible way to govern the united states. >> greta: well, the sequestration deadline is coming up the 1st of january. what people are saying on capitol hill, the president is saying, congress is saying, it may be scary stuff, but if we go over the fiscal cliff that all sorts of things will happen, that there will be another recession, we'll go deeper into our existing one, if we have an existing one, jobs lost, the market will crater, should we go over the fiscal cliff, even though it's created by the president, the house, the senate, failed to do their work a year and a half ago and pushed us against this deadline. your thoughts. >> right. my thoughts, they could pass a provision to ext
. ♪ host: we will spend about two hours this morning on the "washington journal" talking about the fiscal cliff. we want to start off hearing from you on a different topic. what do you think about hillary clinton's future and her running for president in 2016? that is our question this morning on the "washington journal." you can start dialing in now, or you can contact us via social media. you can make a comment on our facebook page. you can also send us an e-mail. from "the hill" newspaper yesterday -- a new poll by abc news and "the washington post." 57% say they support a presidential bid from every clinton in 2016. -- from hillary clinton in 2016. 68% approved of her work as secretary of state. 66% hold a favorable view of clinton after her department has faced criticism over the handling of benghazi and libya. clinton also has heavy support in new york were 54% of registered voters say they would support a presidential bid by her in 2016. that is an "the hill" newspaper. we have lots of facebook comments already on this question. we want to share a couple of those with thieu. jackie
. >>> deal or no deal. we're on the edge of our seats. washington, the fiscal cliff suspense is killing us. 29 days in counting until our taxes go up and across the board spending cuts. we still don't know any of the details. instead we're getting lots of mixed messages as to what exactly is going to happen, where things stand. >> there has been progress. >> right now i would say we're nowhere. >> i'm increasingly pessimistic. >> so tonight, two men who have lots of experience dealing with lawmakers. paul begala, david frum, former adviser to president george w. bush. gentlemen, nice to have you both. david, let's start with you. depending on who you listen to, it's either going great or not going well at all. they're either optimistic or completely pessimistic. which is it? >> i feel about this whole process as a basketball nonfan, i feel about basketball, which is start it 100-100 and play for five minutes to get it over with. but i think we also need to take a step back and realize just how lunatic this whole process is. what the united states does not need right now is either spending
.com stay with us for the up to the minute in tone in washington today -- as the fiscal cliff looms. kron4's political analyst michael yaki is here to talk about it all -- however, only 34 days until the united states faces the our political analyst, michael yaki is on set tobut first let's go to vicki? >> politicians in washington are trying to reach a compromise before the january first deadline. if no deal is reached -- tax increases and effect. president obama says the people need to be part of the fiscal cliff debate. and today, he's taking his message on the road. >> i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> but republican lawmakers, question the president's decision to leave washington. >> in other words rather than sitting down with lawmakers of both parties and working out an agreement he is back on the campaign trail presumably with the same old talking points that we are all quite familiar with. >> mister obama assured the public he is doing his part.
that have been coming out of washington around the fiscal cliff. when it looks like there is some movement made, when it looks like there's a deal that could be reached, you see the markets go up. when things look bleaker, the markets are going down. that's not the case today and has people wondering, okay, is this just posturing? is wall street getting used to the posturing and where do we go from here? personal income numbers were unchanged and consumer spending numbers down. that was worse than expected. these numbers were thrown off by sandy. at this point i think wall street is easing into friday. chris, back to you. >> maybe they're just happy it's friday, becky. >> reporter: i am. >>> well, it didn't take long for republicans to reject the president's proposed solution to the fiscal cliff crisis. now harry reid says it's the republicans turn to put out their own plan. with me now tennessee republican congresswoman diane black who is a member of both the budget and ways and means committees. congresswoman, thank you for joining me. we had some reporting earlier that said don't expect
that all eyes in the fiscal cliff spinoff are now turn on the white house. to take all of this up tonight, the politics and policy in the games being played by both sides in washington dc, we will be joined by richard shelby, the ranking republican of the banking committee. he joins us. congressman devin nunes, chairman of the ways and means committee to tell us what kind of effor it will take and who will be blamed for failure to stop these tax hikes and trillion dollar budget cuts. bradley graham is among our guests tonight. here are the details on exctly what secretary geithner has proposed on behalf of the presidento avoid the fiscal cliff. according to the republicans in that meeting, the offer includes $1.6 trillion in new revenue. that is higher taxes, raising tax rates, and taxes on investment income. at least $50 million in new stimul spending in the next fiscal year alone. mind you, of course, the repubcans looking for spending ts as an offset to their agreement to raise taxes. the only spending cuts in the plan come from cutting medicare and other programs by 400 billion over t
washington needs to crack the whole fiscal cliff thing wide open. all i'm saying is i think it has the power to bring people together simpson style. that's it for us. thanks for watching. erin burnett out front starts now. >>> "out front" next, 27 days away from the fiscal cliff. octagenarians doing gangnam style, no deal, and what syria is planning to do if bashar al assad will do if he uses chemical weapons against his own people? a woman with a 1% survival after contracting a flesh-eating bacteria. she made it. tonight let's go "out front." >>> good evening. i'm erin burnett. out front, gangnam style. this is how one man sees the fiscal cliff. this is allen simpson, as in the simpson in simpson/bowles. ♪ >> yep, that may be the most actions the fiscal cliff saw today. here's the scene on capitol hill here at noon. yep, people leaving, members of congress leaving washington, heading home on a wednesday afternoon. one man standing was the house speaker and he says, i'm not going anywhere. >> i'll be here and i'll be available at any moment to sit down with the president to get serious abo
president obama and john boehner both talking fiscal cliff. are they talking to each other? is anyone in washington talking to each other? our panel is here to talk about that next. >> one of our favorite videos of the year. back of the police car. he's back. you have to see what he has done now. stay tuned. ♪ ♪ those little things still get you. for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for ily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term in
at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more. reporter: yes, what is clear is increasingly, the two sides -- the obama, white house, senate democrats on one side, senate republicans on the other, there is a ticking clock involved here. they should be hitting their stride right about now. timothy geithner is trying to avoid plunging of the fiscal cliff. he has made clear that the obama administration is saying that the first order of business has to be to extend tax breaks for middle-class families and raise tax rates for the top 2% of income earners. talks over how to rein in entitlement spending should be held sometime next year. >> the president is asking for $1.6 trillion of new revenue over 10 years. twice as much as he has been asking for the public. his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: en
for signs of progress, jon. jon: we are, indeed. mike emanuel, keeping an eye on the fiscal cliff negotiations for us there in washington. thanks, mike. jenna: from capitol hill to the white house now, and right now the president is getting ready to host governor mitt romney for lunch. the former rivals will be meeting behind closed doors in a private white house dining room. reporters were not invited. jon: oh, gee. jenna: left off that invitation list. jay carney says there's no formal agenda, and we don't know the menu as well. very curious ability what they're serving today n. his victory speech, president obama said he was looking forward to sitting down with governor romney and talking about ways they can move together to move the -- they can work together to move the country forward. he will also meet with his former running mate, congressman paul ryan. jon: vice president joe biden today calling for a middle class tax cut while getting in some christmas shopping as well. mr. biden visited the first costco store to open in washington. we won't tell you what he bought to put
about this fiscal cliff and her attitude toward it. i want to you react to it. >> sure. >> it's not a good idea to go over the fiscal cliff. no one wants to see that happen. it is a bad idea. but a worse idea is to accept a compromise that allows the wealthy americans to continue to not pay their fair share because the result of that will be middle class families will bear the entire burden of the challenges that this country faces. that's not fair or responsible. >> how do we do it? how does this country manage to get a decently fair deal in time to beat this cliff, avoid it? >> tom cole said it all. take what the president has offered right now. make sure that 98% of the people aren't affected by any tax increases. that's how we get it started. and patty is absolutely right. we have all these problems facing us and this is the way to do it. a bad deal would be saying to the millionaires and billionaires, you're going to get a big tax break. that's what the elections was about. we held an election. it isn't as if this was a sidebar issue, chris. this was a main issue. >> i kn
bit. republican leaders say though are nowhere near on negotiations to avoid the fiscal cliff. >> and protest in tahrir square as anger continues to grow against egyptian president mohammed morsi. we'll have a live report. >> new information on what may have caused a freight train carrying dangerous chemicals to derail in new jersey. >> heather: the clock is winding down to a potential economic disaster. there has been a lot of talk apparently nothing to show for it. democrats and republicans blaming each other nor the standoff with your tax bill riding on the out come. unless an agreement is reached by the end of the month, bush-era tax cuts will expire triggering a rise in taxes by an average of 5%. that means a middle-class family will pay $2,000 more in taxes and married couples would be hurt because of marriage penalty. it doesn't include the budget consequences. $55 billion would be cut from the pentagon and another $55 billion slashed from domestic programs. an estimated 2 million jobs could be lost pushing the economy back into a recession adding to the misery to those
. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than everyone says we need. all economists say we need a minimum of $4 trillion or greater swing. that means a combining of many things. i think both of them are in the two or not much more than two or lower than two. that only goats you halfway there. i don't know how we got off track of what we really need to fix this. martha: he argues the economy is ready to take off if people would just stop playing the blame game. bill: one of the changes that may be coming is the reduction in the mortgage interest rate duck you can claim. but according to the i.r.s. only a small percentage of americans claim it after all. all. 37% in maryland and 15% in north dakota. 73 per of americans are opposed to changing that. martha: the owner of popular restaurant chains claims complaints about obama-care h
people to make tough votes. and the deadlines that are coming up are when the fiscal cliff occurs at the end of the year or more frankly the thanksgiving -- the christmas holiday season when members of congress probably want to get away and get away from washington for good or at least for a while. and so the real negotiations won't occur until we get really close to christmas or close to the very end of the year. and now we're in the stage where people are kind of making demands, having press conferences, using pr techniques. but the real negotiations won't occur until at least mid-december. >> let's move to the other big topic in washington this week. of course u.n. ambassador susan rice on the hill. she met with several republican senators who have threatened to block her possible nomination as secretary of state. let's play those highlights, as well. >> we are significantly troubled by many of the answers that we got and some that we didn't get. >> bottom line, i'm more disturbed now than i was before. >> i want to say that i'm more troubled today. >> i left that meeting with
for the rest of the week. so why are they leaving when the fiscal cliff is 26 days away? >> you know, it is an interesting decision. look, we are in the lame duck congress and so what the republican leadership says is that they simply don't have a lot of legislation to put on the floor to keep members of congress here. however, you are right. the optics of republicans leaving today, wednesday, with two days left in the week with the fiscal cliff not too far away certainly may be questionable. what they insist is that their members are going to go back home and talk to their businesses and small business leaders to maybe play the outside in-game that the president has been playing by trying to rally support for his side of this issue. >> dana bash, reporting live from capitol hill. >>> also, right now, brefing congress about exactly what happened in benghazi. every single members of the house of representatives, all 400 plus of them were invited. so elise, this is a multimedia presentation. so is it a power point on benghazi? >> reporter: well, carol, the members are just starting to
to art. congratulations to all. that is your 5@5:00. >>> with a few weeks until the year end fiscal cliff there is still no deal in sight. both sides are showing no signs of budging. kelly wright is live in washington with details for us. >>> less than month ago for tax hikes. they automatically place democrats and republicans are further apart on a the plan. tim geithner changed the plan last week. that plan calls for 1.6 trillion of higher taxes over the next decade $50 billion stimulus package and provide 600 billion in spending cuts. he is waiting for root pe kaub cans to respond to the plan for the president's proposal. >> we think that's a good set of proposals and good for the economy. if they have different suggestions they should slay it out to us. >> republican leaders should make the deeper cuts on medicare, medicaid and social security. as for raising taxes on the wealthy, republicans want a great higher revenue for closing loopholes and limiting deductions not a tax hike. they are not pleased with the president's proposal. >>> i was flabber fasted. i looked at them said you c
this morning, and he reminds shoppers about the fiscal cliff while he's at it. >> in all honesty, i didn't have my own card. jill wouldn't let me have one. i went to get my wife's card, and she said, no, no, no, you get your own. all the people you meet in here today and you see, these are hard-working folks who don't need to see their taxes go up. >> that's one way to create opening day buzz, although it looks like watching this scene everybody was more interested in watching the vice president do his own shopping there. >>> also, why are people receiving this fund-raising e-mail from bill clinton? quote, i've enjoyed it so much whenever we've brought one of hillary's strongest supporters to new york to spend a day with me, i'm happy to tell you that i've asked to do it again. this is not the launch of a 2016 campaign. secretary clinton's 2008 campaign still owes $70,000, and they're trying to pay it off. just weeks after galvanizing the >> there's a lot of scientific data that i found out as a scientist that shows this is really a young earth. i don't believe that the earth's but about 9,000
of worries about the fiscal cliff. which is more like a fiscal tip in washington right now. markets finished up a bit yesterday but they had come off the day's highs because of comments from house speaker john boehner about the fiscal cliff negotiations. i think he said you guys got to get serious. pretty serious about his criticism of the white house. bonuses for executives shutting down hostess. that's right. a u.s. bankruptcy judge approved $1.75 million in incentive bonuses yesterday for 19 hostess bosses, as they unwind the company. the maker of beloved american staples like twinkies, wonder bread, ding dongs, ho-hoes, closed its doors earlier this month after its bakers union went on strike over reduced pay and benefits, and you'll recall the company went to a judge and said we're going to shut down. so they are. executives will get bonuses as they finish the job of closing down the company. >> a long time in the making, right? >> it could be they survived the great depression but couldn't survive the great recession and a couple attempts at bankruptcy, and that's it. so we'll see. may
the fiscal cliff. >> i will go anywhere and do anything it takes to get this done. it's too important for washington to screw this up. >> and john boehner, not to be outdone, put a little early present under the tree too. >> i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> these are pretty glum faces to deliver those presents. no smile from either one of them. but investors didn't care, they're excited about the present, the dow gained more than a full percent throughout the day. will we have a true christmas miracle? courtesy of those two. oh, let's hope that they don't wear those hats. i spoke this evening with republican senator john cornyn of texas, he's the republican whip and member of the finance committee, and i asked him what has he actually done to help get this deal done, not the night before, but before christmas. >> we have said that revenue, is something that the president said he needs, we have made the point that revenue is on the table. even if we were to conceive hypothetically, what the present has asked for,
of the fiscal cliff mess, the demise of grover norquist and his anti-tax pledge. he is a conservative industry in washington. he has managed to intimidate people with a certain degree of power but it is starting to unravel. former senator, alan simpson, may be wrong on many things but he has nailed grover norquist. >> he was gathering up those signatures back in the '80s and early '90s when inflation was zip, when unemployment was zip and anybody who would sign anything before they come to congress and hear the debate and participate in it hopefully. why would you do that? it is like selling your soul. let me tell you. he is becoming irrelevant. you can see it in his eyes. he knows the game is up, because good people of good faith have decided instead of being republicans or democrats, they are americans. >> according to norquist, republicans only need to worry if they violate the pledge. >> it is possible if the republicans lose in such a way that they have their fingerprints on the murder weapon then you have a problem. >> murder weapon. norquist also takes cheap shots in defending his anti-
convinced they are not going to come to an agreement on the fiscal cliff unless compelled to do so by an adverse external event like a sharply lower equity market. lou: and is, you know, i can't imagine a market ever going down as john is suggesting here simply because a government chooses not to function. >> well, if it means we're headed into recession, the markets will react. in a typical bear market, stocks sell off by 20%. it's great to have a compromise before the year end, but time is running out. it's not possible. lou: how is it that a treasury secretary responsible for the integrity of the markets, the currency, responsible, indeed, for the financial system of this country, largely, broadly, and internationally, would sink to the level of a political operative making statements about we're going over the fiscal cliff and we're ready to go. >> the president put him in charge of the negotiations from his point of view. lou: clever. >> he's wearing two hats at this point in time. consider here, yes, there's a big complicated negotiation that needs to take place, but there's
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